Monsanto @ Year Highs
Published on Friday, 05 October 2012 12:34 Written by TradersHuddle Wire
New York, October 5th (TradersHuddle.com) - Shares of Monsanto Company (NYSE:MON) booked a new 52 week high today by trading above $91.95, traders are definitely monitoring Monsanto's price action to see if this move attracts further buying into the stock.
Monsanto Company (NYSE:MON) principal activities are to provide agricultural products consisting of the global seeds and related traits businesses and biotechnology platforms. Its major brands include DEKALB, Channel Bio for corn, Asgrow for soybeans, Deltapine for cotton and Seminis and De Ruiter for vegetable seeds.
Monsanto is currently trading 1.56% versus its previous trading session close, and it has calculated support and resistance at $76.89 and $89.73 respectively. Clearly, with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range.
The overall market index S&P 500 is trading higher by 0.3% from its previous trading close, which means that Monsanto stock is outperforming the overall market.
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